Fall Back November 1 Mexico Beach, Fl

Don't forget to turn your clocks BACK November 1. This to me symbolizes the beginning of winter. I am NOT a winter person! I NEED daylight. I sleep when it is dark---so when it gets dark at 5:00 I have to fight to stay up. My husband thinks I'm part bear!!! (for probably more than one reason!)
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Our weather has been absolutely gorgeous over the past week though. Cool in the mornings and at night and warming up beautifully in the middle of the day. I love this weather! I love having my doors and windows open!


The grass has just about stopped growing! Yahoo! Mowing twice a week is over!!!
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On the real estate front for Mexico Beach:


Closings for the week of 10-19


Not a lot of closings, it has definitely slowed down. Which is typical. NOT DEAD! We still have lots of buyers-----they are all about the price!!


It cracks me up when Realtors say "this property sold for $900,000 in the height of the market". My response is "who cares!" The height of the market was in 2005. We may never reach that peak again, certainly not for many years!!!!


We are still all over the place in listing prices. Please don't blame that totally on the Realtor. We are hired by the seller, we have to do what they tell us.


The properties that are reasonably priced are selling. Gulf view being the most preferred!!!!!!

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Buyers are starting, (finally) to look at vacant lots again! I've put a couple of them under contract just in the last few days. There are some great lots on the market--starting at $150,000 for BEACH SIDE! $65,000 for a lot about 1/2 mile to the beach, easy golf cart ride, not in a subdivision so no HOA fees or Covenants and restrictions. $42,000 for lots in a subdivision, maybe 1/4 mile to the beach!


Construction costs are down. System built homes are REALLY affordable. So you could have a brand new, custom built home for just about the price you pay for an older home now.


Now, I completely understand why someone would NOT want to build. That thought overwhelms me. Way too many decisions for me, I'm the person who wants a house already constructed--just let me move in now!!!
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Insurance is always a big question for buyers. Many people who are not from this area have heard that you can't get insurance or it is extremely expensive.

This is neither the case in Mexico Beach to St. Joe Beach.

As an example: 1800 sq ft house with gulf view, built in 2004---$1800/year. Now that house has hurricane impact windows which helps alot.


It is the windstorm policy that is the most expensive part of the insurance here. There are things you can do to lower that cost for older homes.

• Storm shutters: many products available. Hurricane netting, window film, plywood, metal shutters......


• Hurricane clips on the roofing system


• Security system


• Metal roof


• Hurricane impact glass

Let me know if you'd like more information.

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Flood insurance.........Amazingly not all property in Florida is in a designated flood zone!!

X flood zone is outside of the 500 year flood plain---mortgagors will not require flood insurance.

If you want flood insurance you certainly can get it no matter what flood zone you are in. It is not outrageous at all---and the policies are transferrable to new buyers.

For an example: A house with dedicated gulf view, just steps from the water is in an X flood zone and they pay less than $500/year.
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There are areas, especially out on Cape San Blas, where all insurance bets are off! The Cape is a somewhat narrow peninsula sticking right out into the gulf. This area is in a completely different insurance zone.

If you want more information about Cape insurance, just let me know!!!

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There are some good deals out there. Remember, you don't know what a seller will take unless you TRY!!!! Your Realtor can give you comps so you know what the market value is!!!

Here are some properties that I think are either listed at good prices and are probably still negotiable, or I know they are negotiable to a good price!!!

Possible good deals!!!


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Have a great week, Don't hesitate to call me with any questions.

Check out my calendar, I just posted the events for November!!!

And remember: Don't tell God how big your Storm is....tell the storm how big your God is!



Mary Blackburn

850-896-5222

www.maryblackburn.com

Sundance Realty

Mexico Beach Florida

Wow, a chilly weekend! It was 43 degrees yesterday morning when going to church! Yikes! I was ready for FALL WEATHER not winter weather.
It much better today--gorgeous in fact. 71 degrees right now at 4:00, not a cloud in the sky and the water is slick calm! It could stay this way all winter and I'd think I was in heaven!!!
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As for Real estate: MLS (the Realtor database of listings) was extremely slow last week. Still lots of people looking just not a lot of new listings or properties going under contract.

I do know there were quite a few offers going back and forth last week, low offers, and the sellers were coming back at reasonable prices but the buyers were wanting even better deals!

There comes a point where sellers will not go any lower. Not every seller HAS to sell.

I certainly don't mind, in fact I encourage, buyers to start low. But everybody should expect that in this kind of market. Sellers shouldn't get their feelings hurt at these low offers and buyers shouldn't be offended when sellers don't accept their low offers.

AND PLEASE, DON'T BLAME ME! I can only advise, I CAN'T MAKE SOMEONE SELL!

Sometimes you might hit a seller just at the right time to get that screaming deal. You just never know until you try though!!!!!!
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I think there are some great deals out there: $200,000 for a 2,000 sq ft home in a residential neighborhood, $900,000 for a LARGER GORGEOUS move in ready home with a pool and water view, around $100,000 for a really nice double wide mobile just a few blocks to the beach, little ranch home in a great neighborhood a couple blocks to the beach for $170,000....need I go on?
If any of these properties sound interesting--let me know and I'll send details!!!
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Don't forget about the auction November 7th. Two larger homes (on one lot) that are classified as a duplex, beach side of Hwy 98. They need some work but are on the vacation rental market now so definitely livable. An unusual property--which always puts it at the top of my list!!

Also beachside vacant property. A gulf front lot (140 ft on the water)and 1st tier right behind it. I think you can get this for a really good price.

If you want details, just let me know. You can always make offers before the auction!!!
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The Art and Wine festival was last Saturday, a great turn out with awesome artists!!

This Friday will be the BOW WOW BASH at WINDMARK BEACH.
Food from the School of Fish restaurant, Both silent and live auctions with fantastic items. and lots of fun! $30 PER PERSON OR A TABLE OF 10 FOR $250. All proceeds will benefit the St. Joseph's humane society.
There's also a 5K run Saturday! Let me know if you want more info!!
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Have a great week, and please don't hesitate to call me with any questions. Remember, I literally work 24/7. It always tickles me when people ask me if I work on the weekends. YES, I WORK WEEKENDS, HOLIDAYS, WEEK DAYS, EVENINGS..............

My words of wisdom this week: There are three kinds of people in the world—those who don't know what's happening, those who watch what's happening, and those who make things happen.

Mary
850-896-5222
www.maryblackburn.com
sundance realty
Mary Blackburn on Facebook

Mexico Beach Fl real estate update

It is supposed to cool down a little this week with high's only in the 80's. I think it's a little warmer than normal in October this year! I just checked and the average in October has been in the mid 60's so we are definitely a lot warmer this year. We are all ready for some cooler weather. I'm ready to turn off that AC and open up the windows!!!!
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The Auction at West End Harbor was Saturday. Great attendance---43 registered bidders, although there were only a handful of actual bidders. There were a lot of registered bidders ready to bid in case the prices got really low!

Amazingly, the one bedroom units went for a pretty penny. Above what I was predicting!
The 1st one bedroom unit, 1,093 sq ft, went absolute at $172,500 + 10% buyers premium bringing it up to $189,750!!!!
The 2nd one bedroom, absolute, went for $167,500 + 10% = $184,250.
The 3rd one bedroom, not absolute, and being sold furnished went for $180K+ 10% = $198,000.

I'm a little surprised they went that high!

The two bedroom unit, being sold absolute, almost 1800 sq ft, sold for $200,000+10%= 220,000.

Another two bedroom that had a boat lift included, sold for $217,500+10% = $239,250.
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The premium unit, the 3 bedroom with over 2300 sq ft, did NOT SELL. The high bid was $270,000 and the seller would not take that amount. I heard he was wanting $500,000.
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If you are interested in a canal front condo---there are others that are available at very comparable (and even lower) prices than those above!!!!!
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The Art and Wine Festival is this Saturday. It is ALWAYS a good time. Great art, good food, good wine, fun auction and YOU CAN'T BEAT THE SCENERY! It's right on the beach at the Driftwood Inn.
http://http://www.mexicobeach.com/cdc/events.cfm
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From what we are hearing from the banking industry, interest rates are going to be going up.
Hopefully very slowly, but who knows!
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There is another auction November 7th in Mexico Beach. A gulf front + 1st tier lot and a duplex beach side. I believe you will be able to get these at great deals. Neither are being sold absolute. If you are are interested and want more information, just send me an email or give me a call and send you some detailed info!!!
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Have a great week and remember: If a dog was the teacher you would learn things like: When loved ones come home, always run to greet them, Allow the experience of fresh air and the wind in your face to be pure Ecstasy, Be loyal, Never pretend to be something you're not, When someone is having a bad day, be silent, sit close by, and nuzzle them gently.

Don't hesitate to call me if you have ANY questions about buying or selling real estate!

Mary
850-896-5222
www.maryblackburn.com
Sundance Realty

Real Estate Auction in Mexico Beach

West End Harbor, a newer condo development in Mexico Beach, is having an auction this Saturday, the 10th. Three condos are being auctioned off absolute, which means no reserve set.

These condos were built in 2006 and have all the bells and whistles including a boat slip! They range in size from 1,093 square feet to over 2300. The units that are selling absolute are only the 1 and 2 bedroom units. There is a 3 bedroom available for purchase, however, there is a minimum reserve.



It's always extremely interesting to see what prices these auctions bring! The last canal front auction brought such low prices the auctioneer stopped selling them!! However, the ones that did sell are now the new market value. The last auction sold 4 canal front condos absolute at an average of $136/sq ft. (They were supposed to sell 10 but stopped after selling 4).



The condos that are selling this Saturday are nicer and have more square footage although less bedrooms.



Let me know if you are interested and I'll get all the information for you!!
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We had an EXTREMELY active week in real estate in Mexico Beach last week.

SEVEN PROPERTIES WENT UNDER CONTRACT LAST WEEK!!!

>3 bed/3.5 bath gulf view townhouse, beach side, gulf view, almost 2,000 sq ft. Listed at $289,000.

>2 bed/2 bath older condo with unobstructed gulf view, practically right across from Toucan's restaurant. Community pool. Listed at $289,000 as a short sale.

>Three Waterside Cottages went under contract as well. These are the free standing homes right on Hwy 98 in the only gated community in Mexico Beach--One was a 3 bedroom, bank owned listed at $291,000. The other two were 4 bedrooms, developer owned and listed at an overpriced $495,000 but we knew the sellers bank only wanted to net $300,000.

>A gulf front duplex (up and down units) 5 bed/5 bath listed at $750,000 as a short sale.

>3 bed/3.5 bath beach side townhouse with almost 2,000 sq ft listed at $325,000.

http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=G356328317

We also closed on 6 properties.

>Odd shaped lot in a residential section of Mexico Beach for $31,500

>Good sized lot in the 2nd block to the beach in St. Joe Beach for $57,500

>3 bed/2 bath older townhouse about 1/4 mile from the beach sold for $75,000

>Vacant lot in a nice subdivision just a stone's throw from the water, bank owned, sold for $91,000

>A Windmark beach lot, 3rd lot from the Bay for $105,000

>3 bed/2 bath newer townhouse about a mile from the beach sold for $125,000.

http://www.rafsg.net/RAFSGReports/ListitLib/show_report.aspx?ID=G356328318

THIS IS A LOT OF ACTION in just one week FOR OUR LITTLE AREA OF MEXICO BEACH IN THE OFF SEASON!

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Here’s a number for you: average sales price this year is 53% of 2005; that's right, almost cut in half!!!

If looking for some good news in the continued price erosion, it might be that the decline is less than half of what it was last year; down “only” 12% as compared with last year’s 25% plunge.

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There are still some good deals out there! Interest rates are not going to stay this low for ever!!!

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Don't hesitate to call/email me anytime!

Have a great week and remember: Live simply.Love generously.Care deeply.Speak kindly.

Mary

850-896-5222

www.maryblackburn.com

Sundance Realty